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Ayala Land launches new project in W. Visayas

Thursday, August 20, 2009 | MANILA, PHILIPPINES [ BusinessWorld Online ]


BACOLOD — Ayala Land, Inc. is continuing its expansion in Western Visayas particularly in Negros Occidental, where it has started its third residential project, and in Iloilo in the near future.

"We’re always looking at growth areas and we see Negros Occidental as one. Businessmen are bullish with Iloilo. We are looking forward to our presence there," Ayala Land vice-president for Visayas and Mindanao Francis Monera told reporters.

Aside from Cebu, Ayala Land has a big presence in Negros Occidental where it started with the high-end residential subdivision Ayala North Point at Talisay in 1997.

It launched the Verdana Homes Asyana last August 15, its second mid-market project after Plantazionne Verdana Homes in 2002. Both projects are adjacent to Ayala North Point, which still has 80 available lots under its Phase 3 development.

In Plantazionne, more than 30 lots are still available while Asyana’s Phase 1, a 2.6-hectare area which will be developed in the next two years, has 114 lots costing an average of P5,000 per square meter.

Forty-five percent of Plantazionne’s homeowners are migrant workers while the remaining 55% are mostly office executives and professionals, branch manager Therese Borromeo said.

At Ayala North Point, about 60% of homeowners are either overseas workers or expatriates married to Filipinas. Future development in the high-end project will include Phases 5 to 8, Ms. Borromeo said.

Meanwhile, Asyana, which has a Modern Asian theme, is intended for the "young, urban achievers of Negros."

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